Latest EV Update: Are Electric Cars Accelerating Past Fuel-Powered Cars?

As the roar of internal combustion engines gradually fades, this signals a transition toward electric automotive innovation, or EVs, which are driving forward quietly yet accelerating to overtake traditional vehicles in the automotive market.

The arrival of electric-powered EVs presents several compelling aspects, ranging from the future of oil-fueled cars and continuously rising EV sales to the management of battery waste that will increase in the future, as well as the key innovations behind these vehicles. All of these represent new perspectives that we wish to present for everyone to follow.

2025 Electric Vehicle Market Update: Sales Increase by 25%

Data from the Global EV Outlook report by the Electric Vehicles Initiative (EVI) presents the latest progress on electric vehicles. It summarizes that in 2024, global electric vehicle sales exceeded 17 million units, accounting for 20% of total car sales. The increase of 3.5 million units in this single year surpasses the total global electric vehicle sales in 2020. Furthermore, it is projected that in 2025, electric vehicle sales will exceed 20 million units globally, representing one-fourth of all car sales.

Although the overall sales figures for EVs are growing remarkably, a deeper regional analysis reveals that in 2024, China remained the leader in electric vehicle sales, with an increase of nearly 40%. Meanwhile, emerging markets in Asia and Latin America saw sales increase by over 60%, particularly in Southeast Asia, where sales grew by nearly 50%. However, looking at the European and U.S. markets, the electric vehicle trend has begun to stagnate due to the cancellation of government support measures. For instance, in the U.S., EV sales slowed significantly in 2024, increasing by only 10% compared to 40% in 2023.

The Future of Internal Combustion Engine Vehicles Amidst the EV Price War

Currently, our domestic automotive industry has driven to a crossroads between internal combustion engine (ICE) vehicles and electric vehicles, with the selling price being a critical decision point